Scandinavian Enviro Systems (publ) ("Enviro", "the company") has received a recovered tyre pyrolysis oil order worth MSEK 2 from Preem fuel company. The oil will be delivered in the first quarter 2023 and used by Preem for production tests.
The fuel company Preem will use the delivered oil as a raw material for production tests to determine how suitable it is for the production of different biofuels. These tests will take place at Preem’s refinery in Lysekil, which has already been granted a permit to conduct production tests of tyre pyrolysis oil.
“This order is very important for us since it is yet more confirmation of the commercial potential of our oil and our recycling technology. A large player in the oil industry in our own home market taking this step provides important support for our expansion in both Sweden and internationally,” says Thomas Sörensson, CEO of Enviro.
This oil will be produced at Enviro’s plant in Åsensbruk where Enviro extracts oil from, for example, end-of-life vehicle tyres using its proprietary and patented recycling technology.
Preem is Sweden’s largest fuel company and has high environmental ambitions, for example, the company has communicated its target to produce 5 million cubic metres of renewable fuel and to achieve climate neutrality along its entire value chain by 2035. Pyrolysis oil contains a high percentage of renewable material due to the high amounts of natural rubber found in the vehicle tyres, and thus is very suitable for producing environmentally sustainable biofuel. Enviro recently announced that a subsidiary of a leading US oil company has carried out successful production tests of Enviro’s tyre pyrolysis oil.
In the past year, Enviro’s pyrolysis oil has been certified under the International Sustainability & Carbon Certification (ISCC) EU standard and has received REACH approval. REACH is the European Parliament and Council’s regulation concerning the Registration, Evaluation, Authorisation and Restriction of Chemicals.
For further information, please contact:
Thomas Sörensson, CEO Enviro, +46 (0)735-10 53 43, firstname.lastname@example.org
Alf Blomqvist, Chairman of the Board Enviro, +46 (0)733-14 97 00, email@example.com
Mangold Fondkommission AB is Enviro’s Certified Adviser on Nasdaq First North Growth Market Stockholm.
This disclosure contains information that Scandinavian Enviro Systems is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 17-11-2022 23:15 CET.